If you caught our last mailer sent on June 25th, we shared with you that in 2019 the Cleveland Metro Area trended upwards of 5% year-over-year rent growth.
Just 5 days later, Case-Schiller's Q2 2020 Index Report revealed that Cleveland ranks as the 4th highest city in year-over-year value appreciation rate, at 6%.
According to the report, "among the [20 city composites], Phoenix retains the top spot for the 11th consecutive month, with a gain of 8.8% for April. Home prices in Seattle rose by 7.3%, followed by increases in Minneapolis (6.4%) and Cleveland (6.0%).”
These trends are influenced by the expanding presence of major employers in cost-effective, highly educated middle-market territories. Let us remind you that these Fortune 500 companies are based in Greater Cleveland:
Progressive Group of Insurance Int'l HQ
Goodyear Tire & Rubber Int'l HQ
Travel Centers of America
Cleveland is now home to two new Amazon fulfillment centers, now operating and employing 3,000 new jobs in the heart of our operating areas (Euclid & North Randall).